Banking On Magic

Posted on June 26, 2026 by MN Gordon

“‘I will surely strike my hands together at the unjust gain you have made and at the blood you have shed in your midst.”

– Ezekiel 22:13

Monthly Budgets Under Assault

American consumers are being squeezed. Between high grocery prices, rising utility bills, and hefty prices at the pump, little float remains in monthly budgets. An unexpected medical bill or car repair is all it takes to blow the household budget.

We’re all living through stressful macroeconomic crossroads here in mid-2026. For a while, it appeared the post-pandemic inflationary dragon had been slain. We were promised inflation would soon return to the Federal Reserve’s 2 percent target.

But that was before the U.S.-Israel attacked Iran and a new energy shock was triggered. Perhaps the MOU negotiations and reopening of the Strait of Hormuz, with UN evacuation, will soften things in the months ahead. Nonetheless, we do not expect there to be long-lasting relief. Continue reading →

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The Amsterdam of AI

Posted on June 22, 2026 by MN Gordon

There is a certain breed of politicians operating in American government today that can’t seem to keep their grubby hands out of the fruits of private wealth. They’re unwilling to recognize that new wealth generated by private enterprise benefits everyone. Blind to the bloody lessons of history, and entrenched in politics of envy, they endeavor to confiscate and redistribute that which does not belong to them.

There’s a battle raging in the USA for the future of artificial intelligence. The outcome will result in two wildly different futures. One future is an America characterized by unrestrained wealth and innovation that propels civilization to new heights. The other is an America characterized by apathy, poverty, and a lumbering and all controlling centralized state.

But while Washington sharpens its tax shears, a completely different story is unfolding down south. Argentine President Javier Milei is doing something remarkable.

Instead of threatening technology builders with the barrel of a regulatory gun, Milei is rolling out the red carpet in Buenos Aires. He’s aiming to turn the city into a free-market sanctuary for AI developers with the most attractive legal and business environment on the planet. Continue reading →

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California’s Self-Inflicted Squeeze

Posted on June 19, 2026 by MN Gordon

Long time readers may recall the many articles we wrote over many years highlighting the madness of California planners and policymakers. We were born and raised in the land of fruits and nuts and lived and worked there for over four decades.

About four years ago, we made our California exodus. At the time, we thought our coverage of the Golden State’s self-destruction would continue. We still have family and friends there who we visit from time to time. But, as we’ve found, without a front row seat to the big show we’re less inclined to gawk at the insanity. Articles on California have diminished to a slow trickle.

Today, however, following a recent conversation with a friend and California resident, we aim our sights at our former home state. Once again, California delivers a rich example of what happens when central planning outweighs economic reality. Here the specific example involves extreme intervention in oil and gas markets.

Policymakers in Sacramento, over many decades, have operated under the assumption that if petroleum production, refining capacity, and fuel consumption were made sufficiently difficult and expensive, the market would rapidly transition to their preferred alternatives. Continue reading →

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From Pharaohs to the Fed

Posted on June 12, 2026 by MN Gordon

Since the very beginning of ordered government, rulers and their administrators have endeavored to control their economies. The conviction that there is a fair price for a certain good, and that it ought to be imposed by government decree, is a foolishness nearly all rulers are incapable of resisting.

For the past forty centuries (or more), governments from every corner of the world have tried to fix wages and prices. When their plans flop, as they almost always do, officials rarely blame the inherent flaws of their policies. Instead, they point fingers at the greed of businesses and citizens.

To this day, governments and academics can’t shake their obsession with economic planning. With little reprieve, a group of people appear with every generation who think they can centrally manage the whole economy.

They eventually find out the hard way – after a lot of painful, failed experiments – that it simply doesn’t work. But because human nature never changes, the same old ideas are rehashed, perhaps with a shiny new name, and the cycle is repeated.

How else can one explain the election of Zohran Kwame Mamdani, a member of the Democratic Socialists of America, to mayor of New York City? Continue reading →

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